DropsDAO Newsletter - May 19
This week, DropsDAO offers loans against Remilios for as little as 3.2%, Axie Infinity makes it into the Apple App Store, a Web3 gaming fund raises $25M and Bitcoin Frogs passes BAYC in daily volume!
Happy weekend, DropsDAO community!
This week, users can use drops.co to borrow against Remilio Babies at rates as low as just 3.2%, with no expiry date:
https://twitter.com/dropsnft/status/1658859214649937922
The team has been hard at work completing development for esDOP, for vesting DOP token rewards. We’ve also been working on backend development for lending pools and liquidity provider pools.
Finally, we tested NFT staking vaults, and updated menu navigation for a smoother dApp experience.
Drops Stats
Supplied: $3,550,222
Borrowed: $668,039
Highest Yield (APY)
The highest APY for USDC is available in the Ocean Pool, with a supply APY of 1.18% in USDC and a distribution APY of 12.93% in DOP.
The highest APY for ETH is available in the Ocean Pool, with a supply APY of 0.8% in ETH and a distribution APR of 6.73% in DOP.
veDOP Stats
Total veDOP: 348,046.31
Total DOP Locked: 2,356,433.98
Average Lock: 0.59 years
NFT News - Highlights of the Week
🔥 Axie Infinitiy Game Makes It To The Apple App Store
Sky Mavis, the creator of the popular crypto game Axie Infinity, is launching a new version called 'Axie Infinity: Origins' on Apple's App Store.
Initially, the game will be available in select countries in Latin America and Southeast Asia. The limited rollout will allow the company to gather data on retention rates before a global launch.
Sky Mavis has been working with Apple for about a year to gain approval for the game, as Apple has historically been restrictive with NFT-related apps. However, the company is hopeful that Apple's policies will evolve to support web3 companies in the future.
🔥 Red Beard Ventures Raises $25M From Animoca And Others For Web3 Gaming, DeFi
Web3 venture capital firm Red Beard Ventures has raised $25 million in a funding round, with notable investments from individuals such as Marc Andreessen and Chris Dixon of a16z, Animoca Brands, John Crain of SuperRare, and others.
The new fund will focus on early-stage projects in decentralized protocols, novel blockchain technology, DeFi, and Web3 gaming infrastructure, with the goal of driving mass adoption by improving infrastructure, user experiences, scalability, and interoperability.
Red Beard Ventures founder Drew Austin's personal journey as a digital art collector has given him a unique perspective and competitive advantage as an investor in the space.
🔥 Ordinals “Bitcoin Frogs” Collection Surpasses Bored Apes In 24h Trading Volume
Bitcoin Frogs, a recently launched non-fungible token (NFT) collection inspired by Pepe the Frog, has surpassed popular collections like Bored Apes to become the most-traded collection in the past 24 hours.
With a trading volume of over $2.2 million, Bitcoin Frogs offers 10,000 unique frog collectibles minted directly on the Bitcoin Blockchain. Each NFT is currently selling for 0.12 bitcoin (BTC), or over $3,200 at current prices.
The trading volumes were spread across 627 individual transactions. NFTs issued directly on Bitcoin have gained traction since the launch of the Ordinals Protocol, which has already surpassed 3 million inscriptions this month.
Other headlines:
NFT Lending Platform Blend Surges Past 100,000 Ethereum in Total Volume
LG Electronics files patent for NFT-trading TV
Secret Service owns crypto, loves blockchain and has an NFT collection: Reddit AMA
Bitcoin NFT marketplace using RGB protocol launches, CEO calls BRC-20 tokens a dumb ‘experiment’
State of the NFT Market (via NFTGO.io)
Market sentiment: 20/100 (💧 Cool)
Total NFT Market Cap: $7.72B
NFT Weekly Volume: $114M
Buyers: 28,355
Sellers: 36,425
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